Promissory Note

Please enter the principal amount of the Note, which is the amount of debt or loan, not including interest, and the date the Promissory Note begins between the parties. Note: this is NOT the date payments begin. You'll enter that later.

Amount *

Who is borrowing the money? *

A Person A Company

Starting Date of Loan *

Who is borrowing the money?

Ex. Brian Blackwell, PO BOX 53180, Lubbock, TX 79453

Who is lending the money *

A Person A Company

Name & Address of Lender *

Will borrower have to pay interest on the loan *

Yes No

If Yes, Whats the interest rate the borrower will pay?

Please enter the interest rate (ex: 8.25) and the date when interest charges and repayment begin calculating. The first loan payment is due exactly one month from the Beginning date.

If the Promissory Note is not paid by the due date, will borrower be charged a higher interest rate on the remaining principal amount? *

Yes No

If Yes, What default rate will be charged if borrower fails to repay the Promissory Note by the due date? *

How will the Promissory Note be paid? *

Installment payments of principal and interest Installment payments of interest only In one lump sun, on a specific date Due on Demand

What are the details of the repayment agreement?

Enter the number of payments required for the loan, as well as the frequency of payments. Example: For monthly payments over a three-year period, enter 36 (12 months x 3 years) monthly payments.
If you desire a balloon payment (a large sum of money due at the end of the term of the loan to decrease scheduled payments), also enter the dollar amount of the final balloon payment. We'll adjust the installment payment amount, based on the amount that you enter as the balloon payment.

Should an amortization schedule be included in this Promissory Note? *

Yes No

If Yes, What is the late fee for an unpaid installment payment? *

When will the late fee be charged?

The grace period is the number of days that may pass before a late fee will be charged to borrower.

Will borrower receive a discount if the Promissory Note is paid off early? *

Yes No

If Yes, What is the date the Promissory Note needs to be paid by to receive the discount?

The "paid by" discount date should be prior to the due date specified earlier. The discount is a percentage of the final payment. Example, if you state Brian Jones is entitled to a 30% discount for paying off the Promissory Note early, Brian Jones's final payment would be $140.00 on an unpaid balance of $200.00.

Can early payments be made on the loan without penalty? *

Yes No

Will this Promissory Note be secured with collateral (personal property or real estate)? *

Yes No

Which type of property will borrower use to secure the Promissory Note? *

Personal Property Real Estate None

If loan is being secured, What is the Security Agreement borrower is using to secure repayment of the Promissory Note?

Which state's laws apply to this Promissory Note?

The state selected, which will govern any disputes, must have some connection to the Note, such as where one or both parties live.

Will there be a Co-signer on this loan? *

Yes No

If Yes, Who is co-signing this loan?

For example: Mary Ryan or Allen Richards, XYZ Company. If an individual person is co-signing, leave the "Organization" field blank.

Will lender be able to sell or transfer the loan to another party?

The assignment option can be included to allow lender to transfer (e.g. sell) their right to receive the loan payments from borrower. Borrower would then make payments to this new party rather than lender.

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Promissory Note

​What is the loan amount and starting date?

Who is borrowing the money?

If Yes, Whats the interest rate the borrower will pay?

What are the details of the repayment agreement?

When will the late fee be charged?

If Yes, What is the date the Promissory Note needs to be paid by to receive the discount?

If loan is being secured, What is the Security Agreement borrower is using to secure repayment of the Promissory Note?

Which state's laws apply to this Promissory Note?

If Yes, Who is co-signing this loan?

Will lender be able to sell or transfer the loan to another party?

What is the loan amount and starting date?